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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

516359

Report Date :

23.06.2018

 

IDENTIFICATION DETAILS

 

Name :

SERMAT ETUD REAL MACHI TOURNAN

 

 

Registered Office :

249 Rue De La Garenne, 92000 Nanterre

 

 

Country :

France

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

20.09.1976

 

 

Com. Reg. No.:

307420067

 

 

Legal Form :

Limited company, simplified - SAS

 

 

Line of Business :

·         Manufacture of electric motors, generators and transformers

·         Subject is engaged in the manufacture of electrical engines

 

 

No. of Employees :

240 [2016]

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(31.12.2017)

Current Rating

(01.04.2018)

France

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

FRANCE - ECONOMIC OVERVIEW

 

The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. France is the most visited country in the world with 83 million foreign tourists in 2016, including 530,000 visitors for the 2016 Euro Cup. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that mitigate economic inequality.

France's real GDP grew by 1.6% in 2017, up from 1.2% the year before. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 10.2% in 2015, before falling to 9.5% in 2017. Youth unemployment in metropolitan France decreased from 24.6% in the fourth quarter of 2014 to 24% in the fourth quarter of 2016.

France’s public finances have historically been strained by high spending and low growth. Despite measures to restore public finances, the budget deficit rose from 3.3% of GDP in 2008 to 7.5% of GDP in 2009. In 2017, the budget deficit improved to 2.9% of GDP, bringing it in compliance with the EU-mandated 3% deficit target. Meanwhile, France's public debt rose from 89.5% of GDP in 2012 to 96.9% in 2017.

Since entering office in May 2017, President Emmanuel MACRON launched a series of economic reforms to improve competitiveness and boost economic growth. President MACRON campaigned on reforming France’s labor code and in late 2017 implemented a range of reforms to increase flexibility in the labor market by making it easier for firms to hire and fire and simplifying negotiations between employers and employees. In addition to labor reforms, President MACRON’s proposed 2018 budget cuts public spending, taxes, and social security contributions to spur private investment and increase purchasing power.

 

Source : CIA

 

Company name

 

Name

Sermat Etud Real Machi Tournan

 

 

Summary

 

Company name

Sermat Etud Real Machi Tournan

Operative address

249 Rue De La Garenne
92000 Nanterre
France

Status

Active

Specification

This company can meet all its obligations.

 

Legal form

Limited company, simplified - SAS

Registration number

Company ID number: 307420067

VAT-number

FR24 307420067

 

Year

2016

Mutation

2015

Mutation

2014

Fixed assets

2.653.316

16,44 

2.278.773

21,14 

1.881.109

Total receivables

3.035.616

4,91 

2.893.582

-14,81 

3.396.630

Total equity

7.287.500

17,73 

6.190.150

19,37 

5.185.679

Short term liabilities

9.437.290

6,07 

8.896.991

-11,69 

10.074.296

Net result

1.519.851

12,98 

1.345.275

-12,48 

1.537.059

Working capital

7.356.942

4,19 

7.060.932

24,41 

5.675.688

Quick ratio

0,92

0,92

21,05 

0,76

Description: https://kredietinformatie.creditdevice.nl/cache/ci-report-1449433-EN/SUMMARY-01-bar-large.png

Contact information

 

Company name

Sermat Etud Real Machi Tournan

Trade names

Sermat

Operative address

249 Rue De La Garenne
92000 Nanterre
France

Correspondence address

249 Rue De La Garenne
92000 Nanterre
France

 

Telephone number

+33 1 46 52 68 68

Fax number

+33 1 47 84 59 05

Email address

contact@sermataero.com

Website

www.sermataero.com

 

 

Registration

 

Registration number

Company ID number: 307420067

VAT-number

FR24 307420067

Status

Active

Establishment date

1976-09-20

 

Legal form

Limited company, simplified - SAS

Subscribed share capital

EUR 4.050.000

 

 

Activities

 

NACE

2711: Manufacture of electric motors, generators and transformers

Goal

Engaged in the manufacture of electrical engines

 

 

Relations

 

Shareholders

ULTIMATE GLOBAL SHAREHOLDER
Name: MR JACQUES NEUVESSEL
Type: One or more named individuals or families

ULTIMATE DOMESTIC SHAREHOLDER
Name: HOLDING NEUVESSEL
National id number: 403305980-00035
Address: 4 RUE DE LA SAUSSAYE
City: NEUILLY SUR SEINE
Country: FR
Type: Corporate
Share direct: 100.00%
Share total: 100.00%
Turnover: 52.41440383 mil. EUR
Total assets: 44.61627895 mil. EUR
Profit loss before tax: 1.0678498 mil. EUR
Profit loss after tax net income: 1.36656636 mil. EUR
Shareholders funds: 16.97589932 mil. EUR

SHAREHOLDERS
Name: HOLDING NEUVESSEL
National id number: 403305980-00035
Address: 4 RUE DE LA SAUSSAYE
City: NEUILLY SUR SEINE
Country: FR
Type: Corporate
Share direct: 100.00%
Turnover: 52.41440383 mil. EUR
Total assets: 44.61627895 mil. EUR
Profit loss before tax: 1.0678498 mil. EUR
Profit loss after tax net income: 1.36656636 mil. EUR
Shareholders funds: 16.97589932 mil. EUR
Number of employees: 448

 

 

Bank details

 

Accounts

CAISSE FEDERALE DE CREDIT MUTUEL

 

 

Management

 

Management

Fullname: Mr Jacques Neuvessel
Type: Individual
Gender: Male
date of birth: 1944/01/11
Age: 74
Number of involvements: 13
Function: Chairman of the Board of Directors
Level of responsibility: President / Chairman

Fullname: Mr Jacques Neuvessel
Type: Individual
Gender: Male
date of birth: 1944/01/11
Age: 74
Number of involvements: 13
Function: Chief Purchasing Officer
Level of responsibility: Chief Purchasing Officer; Purchasing executive

Fullname: Mr Franck Neuvessel
Type: Individual
Gender: Male
date of birth: 1967/08/12
Age: 50
Number of involvements: 10
Function: Chief Executive Officer
Level of responsibility: Highest executive
Appointment date: 2002/10/17

Fullname: Ms Elisabeth Mongondry
Type: Individual
Gender: Female
Number of involvements: 1
Function: Chief Administrative and Financial Officer
Level of responsibility: Chief Financial Officer (CFO); Financial executive; Administration Chief Officer; Administration executive

Fullname: Ms Elisabeth Mongondry
Type: Individual
Gender: Female
Number of involvements: 1
Function: Chief IT Officer
Level of responsibility: Chief Information Officer; IT & IS executive

Fullname: Ms Rhizlane Balghi
Type: Individual
Gender: Female
Number of involvements: 1
Function: Chief Human Resource Officer
Level of responsibility: Human Resource Chief Officer; Human Resource executive

Fullname: Mr Philippe Lerat
Type: Individual
Gender: Male
Number of involvements: 1
Function: Chief Sales Officer
Level of responsibility: Sales Chief Officer; Sales executive

Fullname: Mr Philippe Lerat
Type: Individual
Gender: Male
Number of involvements: 1
Function: Chief Export Officer
Level of responsibility: Chief Officer; Executive

Fullname: Mr Olivier Debay
Type: Individual
Gender: Male
Number of involvements: 1
Function: Chief Production Officer
Level of responsibility: Chief OPERATIONS & Production Officer; OPERATIONS & Production executive

Fullname: Mr Dominique Depardieu
Type: Individual
Gender: Male
Number of involvements: 1
Function: Quality Control Executive
Level of responsibility: Quality Assurance executive

 

 

Employees

 

Year

2016

2015

2014

2013

2012

Annual

240

234

247

263

280

Description: https://kredietinformatie.creditdevice.nl/cache/ci-report-1449433-EN/EMPLOYEES-01-bar-large.png

 

 

Financial analysis

 

Trend

Fluctuating

Profitability

More than sufficient

Solvability

Sufficient

Liquidity

Positive

Show amount in

Euro

 

 

Key figures

 

Year

2016

2015

2014

2013

2012

Quick ratio

0,92

0,92

0,76

0,75

0,59

Current ratio

1,78

1,79

1,56

1,68

1,59

Working capital/ balance total

0,38

0,39

0,32

0,36

0,33

Equity / balance total

0,37

0,34

0,29

0,34

0,36

Equity / Fixed assets

2,75

2,72

2,76

3,17

3,27

Working capital

7.356.942

7.060.932

5.675.688

6.276.895

5.058.251

Equity

7.287.500

6.190.150

5.185.679

5.909.190

5.510.941

Mutation equity

17,73

19,37

-12,24

7,23

Mutation short term liabilities

6,07

-11,69

8,37

7,88

Return on total assets (ROA)

5,25

3,52

1,48

6,91

1,16

Return on equity (ROE)

14,02

10,38

5,04

20,40

3,23

Gross profit margin

3,34

2,41

1,49

4,18

1,31

Net profit margin

4,07

4,18

4,48

4,31

2,97

Average collection ratio

3,96

3,62

3,40

3,95

3,73

Average payment ratio

12,31

11,13

10,10

11,89

12,07

Equity turnover ratio

5,13

5,20

6,61

6,22

5,84

Total assets turnover ratio

1,92

1,77

1,95

2,11

2,09

Fixed assets turnover ratio

14,08

14,13

18,23

19,69

19,06

Inventory conversion ratio

4,61

4,14

4,26

4,27

3,74

Turnover

37.368.888

32.193.816

34.293.128

36.725.965

32.164.284

Operating result

1.248.912

777.363

510.433

1.535.974

422.136

Net result after taxes

1.519.851

1.345.275

1.537.059

1.584.484

956.827

Cashflow

1.853.611

1.670.761

1.831.739

1.923.319

1.240.078

Gross profit

11.942.031

11.029.790

12.448.529

13.174.727

11.501.212

EBITDA

1.582.672

1.102.849

805.113

1.874.809

705.387

 

Summary

The 2016 financial result structure is a postive working captial of 7.356.942 euro, which is in agreement with 38 % of the total assets of the company.
The working capital has increase with 4.19 % compared to previous year. The ratio with respect to the total assets of the company has however, declined.
The improvement between 2015 and 2016 has mainly been caused by a change of the current liabilities.
The current ratio of the company in 2016 was 1.78. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength.
The quick ratio in 2016 of the company was 0.92. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

The 2015 financial result structure is a postive working captial of 7.060.932 euro, which is in agreement with 39 % of the total assets of the company.
The working capital has increased with 24.41 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.
The improvement between 2014 and 2015 has mainly been caused by a change of the current assets.
The current ratio of the company in 2015 was 1.79. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength.
The quick ratio in 2015 of the company was 0.92. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

Description: https://kredietinformatie.creditdevice.nl/cache/ci-report-1449433-EN/KEYFIGURES-01-bar-large.png

Description: https://kredietinformatie.creditdevice.nl/cache/ci-report-1449433-EN/KEYFIGURES-02-bar-large.png

 

 

Financial statement

 

Auditor

Name: BEAUJARD Frederic

Name: RSM RSA

Last annual account

2016

Remark annual account

The company is obliged to file its financial statements.

 

Type of annual account

Corporate

Annual account

Sermat Etud Real Machi Tournan
249 Rue De La Garenne
92000 Nanterre
France

 

 

Balance

 

Year

2016

2015

2014

2013

2012

End date

2016-12-31

2015-12-31

2014-12-31

2013-12-31

2012-12-31

Type of annual account

Corporate

Corporate

Corporate

Corporate

Corporate

Intangible fixed assets

990.000

990.000

991.500

992.987

997.588

Tangible fixed assets

1.643.595

1.268.117

868.969

851.929

670.710

Other fixed assets

19.721

20.656

20.640

20.626

19.200

Fixed assets

2.653.316

2.278.773

1.881.109

1.865.542

1.687.498

Total stock

8.100.885

7.770.258

8.047.810

8.603.034

8.609.633

Total receivables

3.035.616

2.893.582

3.396.630

3.088.826

2.664.741

Liquid funds

753.720

814.580

547.300

726.103

779.710

Other current assets

4.904.011

4.479.503

3.758.244

3.155.415

1.621.249

Current assets

16.794.232

15.957.923

15.749.984

15.573.378

13.675.333

Total assets

19.447.548

18.236.696

17.631.093

17.438.920

15.362.831

Total equity

7.287.500

6.190.150

5.185.679

5.909.190

5.510.941

Provisions

27.000

7.253

Long term liabilities

2.722.757

3.149.554

2.344.119

2.233.246

1.227.554

Accounts payable

4.261.814

3.175.807

3.171.208

3.025.634

2.918.440

Liabilities towards credit institutes

802.437

1.363.213

2.567.715

1.135.429

1.868.560

Other short term liabilities

4.373.039

4.357.971

4.335.373

5.135.420

3.830.082

Short term liabilities

9.437.290

8.896.991

10.074.296

9.296.483

8.617.082

Total liabilities

19.447.548

18.236.696

17.631.093

17.438.920

15.362.830

 

Summary

The total assets of the company increased with 6.64 % between 2015 and 2016.
The total asset increase is retrievable in the fixed asset growth of 16.44 %.
In 2016 the assets of the company were 13.64 % composed of fixed assets and 86.36 % by current assets. The assets are being financed by an equity of 37.47 %, and total debt of 62.53 %.

The total assets of the company increased with 3.43 % between 2014 and 2015.
The total asset increase is retrievable in the fixed asset growth of 21.14 %.
In 2015 the assets of the company were 12.5 % composed of fixed assets and 87.5 % by current assets. The assets are being financed by an equity of 33.94 %, and total debt of 66.06 %.

Description: https://kredietinformatie.creditdevice.nl/cache/ci-report-1449433-EN/BALANCESHEETS-01-bar-large.png

Description: https://kredietinformatie.creditdevice.nl/cache/ci-report-1449433-EN/BALANCESHEETS-02-bar-large.png

 

 

Profit and loss

 

Year

2016

2015

2014

2013

2012

Revenues

36.917.337

31.857.093

34.643.266

36.608.409

32.625.445

Net turnover

37.368.888

32.193.816

34.293.128

36.725.965

32.164.284

Wages and salaries

10.444.674

9.960.129

11.168.870

11.458.766

10.753.877

Amorization and depreciation

333.760

325.486

294.680

338.835

283.251

Production costs

19.995.210

16.583.885

17.335.713

18.135.285

16.178.499

Operating result

1.248.912

777.363

510.433

1.535.974

422.136

Financial income

25.204

105.007

79.761

42.338

977.180

Financial expenses

252.502

239.784

328.770

373.000

1.221.496

Financial result

-227.298

-134.777

-249.009

-330.662

-244.316

Result on ordinary operations before taxes

1.021.615

642.586

261.424

1.205.312

177.820

Taxation on the result of ordinary activities

-558.003

-801.418

-862.275

-529.813

-767.222

Result of ordinary activities after taxes

1.579.618

1.444.004

1.123.699

1.735.125

945.042

Extraordinary income

413.360

1.000

11.783

Extraordinary expense

59.767

98.729

151.641

Extraordinary result before taxation

-59.767

-98.729

413.360

-150.641

11.783

Net result

1.519.851

1.345.275

1.537.059

1.584.484

956.827

 

Summary

The turnover of the company grew with 16.07 % between 2015 and 2016.
The operating result of the company grew with 60.66 % between 2015 and 2016. This evolution implies an increase of the company's economic profitability.
The result of these changes is an increase of the company's Economic Profitability of 49.15 % of the analysed period, being equal to 5.25 in the year 2016.
This growth has contributed to the increase in assets turnover, increasing by 8.47 % reaching 1.92.
The Net Result of the company increased by 12.98 % between 2015 and 2016.
The company's Financial Profitability has been negatively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability reduction of 35.07 % of the analysed period, being 14.02 in the year 2016.
The company's financial structure has slowed down its financial profitability.

The turnover of the company decreased by -6.12 % between 2014 and 2015.
The operating result of the company grew with 52.29 % between 2014 and 2015. This evolution implies an increase of the company's economic profitability.
The result of these changes is an increase of the company's Economic Profitability of 137.84 % of the analysed period, being equal to 3.52 in the year 2015.
Despite the growth the assets turnover decreased, whose index evolved with -9.23 % to a level of 1.77.
The Net Result of the company decreased by -12.48 % between 2014 and 2015.
The company's Financial Profitability has been negatively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability reduction of 105.95 % of the analysed period, being 10.38 in the year 2015.
The company's financial structure has slowed down its financial profitability.

Description: https://kredietinformatie.creditdevice.nl/cache/ci-report-1449433-EN/PROFITLOSSACCOUNTS-01-bar-large.png

Description: https://kredietinformatie.creditdevice.nl/cache/ci-report-1449433-EN/PROFITLOSSACCOUNTS-02-bar-large.png

 

 

Country information

 

Population

64.6 million

GDP per capita

38.178 USD

Country risk

Low

Company risk

Very Low

 

 

Publications

 

Remarks

Status: Active
Category: Large company
Last year: 2016
Turnover last year: 37.368.888 EUR
Result last year: 1.519.851 EUR
TOTAL assets last year: 19.447.548 EUR
Number of employees: 240
Number of shareholders: 1
Number of subsidiaries: 0
Number of branches: 2

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 67.77

UK Pound

1

INR 89.96

Euro

1

INR 78.86

Euro

1

INR 79.18 

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIY

 

 

Report Prepared by :

SYL

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.